November 30, 2018 / 9:09 AM / 10 days ago

Developers to start on $4 bln Indonesia EV battery project in Jan -minister

JAKARTA, Nov 30 (Reuters) - Developers will begin building a lithium battery project in Morowali, on the Indonesian island of Sulawesi, on Jan. 11, Coordinating Maritime Minister Luhut Pandjaitan said on Friday.

The $4 billion project involves investors from South Korea, Japan and China, Pandjaitan told reporters, without naming the companies involved or providing further details on the project.

“Looking at its resources, Indonesia will become the main player in lithium batteries,” Pandjaitan told reporters, referring to forecasts for surging demand for batteries for electric vehicles. (Reporting by Wilda Asmarini; Writing by Fergus Jensen; Editing by Tom Hogue)

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